Segment Information

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment Information

19.  Segment Information

We currently have two operating segments, E&P and Midstream.  The E&P operating segment explores for, develops, produces, purchases and sells crude oil, NGL and natural gas.  Production operations over the three years ended December 31, 2021 were in the U.S., Malaysia and the JDA, Denmark (sold in August 2021), Libya, and Guyana commencing December 2019. The Midstream operating segment provides fee-based services including crude oil and natural gas gathering, processing of natural gas and the fractionation of NGL, transportation of crude oil by rail car, terminaling and loading crude oil and NGL, storing and terminaling propane, and water handling services primarily in the Bakken shale play of North Dakota.  All unallocated costs are reflected under Corporate, Interest and Other.

The following table presents operating segment financial data (in millions):

	Exploration and Production		Midstream		Corporate, Interest and Other		Eliminations		Total
2021
Sales and Other Operating Revenues - Third parties	$	7,473	$	—	$	—	$	—	$	7,473
Intersegment Revenues	—		1,204		—		(1,204)		—
Sales and Other Operating Revenues	$	7,473	$	1,204	$	—	$	(1,204)	$	7,473
Net Income (Loss) Attributable to Hess Corporation	$	770	$	286	$	(497)	$	—	$	559
Interest Expense	—		105		376		—		481
Depreciation, Depletion and Amortization	1,361		166		1		—		1,528
Impairment and Other	147		—		—		—		147
Provision (Benefit) for Income Taxes	585		15		—		—		600
Investment in Affiliates	94		102		1		—		197
Identifiable Assets	14,173		3,671		2,671		—		20,515
Capital Expenditures	1,698		183		—		—		1,881
2020
Sales and Other Operating Revenues - Third parties	$	4,667	$	—	$	—	$	—	$	4,667
Intersegment Revenues	—		1,092		—		(1,092)		—
Sales and Other Operating Revenues	$	4,667	$	1,092	$	—	$	(1,092)	$	4,667
Net Income (Loss) Attributable to Hess Corporation	$	(2,841)	$	230	$	(482)	$	—	$	(3,093)
Interest Expense	—		95		373		—		468
Depreciation, Depletion and Amortization	1,915		157		2		—		2,074
Impairment and Other	2,126		—		—		—		2,126
Provision (Benefit) for Income Taxes	(12)		7		(6)		—		(11)
Investment in Affiliates	104		108		—		—		212
Identifiable Assets	13,688		3,599		1,534		—		18,821
Capital Expenditures	1,678		253		—		—		1,931
2019
Sales and Other Operating Revenues - Third parties	$	6,495	$	—	$	—	$	—	$	6,495
Intersegment Revenues	—		848		—		(848)		—
Sales and Other Operating Revenues	$	6,495	$	848	$	—	$	(848)	$	6,495
Net Income (Loss) Attributable to Hess Corporation	$	53	$	144	$	(605)	$	—	$	(408)
Interest Expense	—		63		317		—		380
Depreciation, Depletion and Amortization	1,977		142		3		—		2,122
Provision (Benefit) for Income Taxes	375		—		86		—		461
Capital Expenditures	2,576		416		—		—		2,992

The following table presents financial information by major geographic area:

	United States		Guyana		Malaysia and JDA		Other (a)		Corporate, Interest and other		Total
	(In millions)
2021
Sales and Other Operating Revenues	$	5,378	$	754	$	738	$	603	$	—	$	7,473
Property, Plant and Equipment (Net) (b)	9,721		3,064		1,035		352		10		14,182
2020
Sales and Other Operating Revenues	$	3,604	$	350	$	511	$	202	$	—	$	4,667
Property, Plant and Equipment (Net) (b)	10,384		2,114		1,067		539		11		14,115
2019
Sales and Other Operating Revenues	$	5,043	$	—	$	762	$	690	$	—	$	6,495

(a)Other includes our interests in Denmark (sold in August 2021), Libya, Suriname and Canada.

(b)Property, plant and equipment in the United States in 2021 includes $6,596 million (2020: $7,273 million) attributable to the E&P segment and $3,125 million (2020: $3,111 million) attributable to the Midstream segment.